StockNews.com Upgrades Allegiant Travel (NASDAQ:ALGT) to Hold

StockNews.com upgraded shares of Allegiant Travel (NASDAQ:ALGT) from a sell rating to a hold rating in a report published on Saturday morning.

ALGT has been the subject of several other reports. Barclays increased their price target on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Wolfe Research downgraded Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Raymond James upped their target price on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, December 30th. Morgan Stanley lifted their target price on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, UBS Group started coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price objective for the company. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Allegiant Travel presently has a consensus rating of “Hold” and an average price target of $69.11.

Allegiant Travel Price Performance

NASDAQ:ALGT opened at $98.12 on Friday. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $100.12. The firm has a market cap of $1.80 billion, a PE ratio of -65.41, a price-to-earnings-growth ratio of 7.17 and a beta of 1.62. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company’s 50-day moving average price is $80.38 and its two-hundred day moving average price is $59.84.

Insider Buying and Selling at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the transaction, the chairman now owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,304 shares of company stock valued at $2,459,900 over the last 90 days. 15.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allegiant Travel

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after purchasing an additional 236 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 304 shares during the last quarter. Privium Fund Management UK Ltd raised its holdings in shares of Allegiant Travel by 3.5% during the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock valued at $581,000 after buying an additional 358 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its position in Allegiant Travel by 8.1% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock worth $331,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.